Precious Metals Preview: COMEX gold slips from 2-week high

COMEX gold edged lower from a two-week high on Thursday morning in Asia as oil prices surged after Trump speech and dollar regained momentum. The dollar index is rebounding after a sharp drop in the previous session. Trump reiterated that Iran?s military capabilities were significantly weakened, signaling an end to the conflict. Trump speech has created a sense of uncertainty, driving investors back to safe haven dollar and hence weighing on metals. Currently gold futures are down around 2% at $4712.90 an ounce whereas silver is down almost 5% at $72.27 an ounce.

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